Medicare Advantage Programs Not Helping with US Healthcare Spending

Medicare Advantage is a program set up by the US federal government to allow private plans to provide government-funded healthcare services to older adults. Although the goal was to offset spending per Medicare beneficiary, it’s done the opposite, with Medicare Advantage plans often costing much more per member than Medicare Parts A and B.

According to Don Lee, “Medicare’s budget woes have been building for years, and the current battle over the nation’s debt ceiling may put renewed focus on restraining the skyrocketing costs for entitlement programs. Federal expenditures for Medicare in all forms are likely to reach $1 trillion this year, second only to Social Security as Washington’s most costly element in the so-called safety net.”

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(Source: Los Angeles Times, May 9^th, 2023)